Timeshares may offer good value if you choose one in an area you expect to visit frequently.
Virtually all investments look bad these days, but some pretty big names want you to reconsider one of the most maligned of all: the timeshare.
High pressure tactics and deceptive costs have given timeshares a mixed reputation.
But companies including Disney, Marriott, Hyatt, Starwood and Hilton dominate the industry, offering new perks and better value. “Timeshares are a great alternative to purchasing a vacation home since you are not responsible for the cost of maintenance,” insisted Jim Lewis, president of Disney Vacation Club.
Selling real estate in timeshares can be a profitable way for developers to sell real estate, especially condos in hot vacation spots or hotel rooms at resorts. In such a deal, several people buy one property ans share it.
Prices range from $8,000 for a small place in Florida to more than $30,000 for vacation rights at a top resort with golf courses and other amenities.
Timeshare offers, even within the same area, can vary greatly. The buy in price may be low, but some places have high annual dues.
One drawback to timeshares is that the participant does not earn any equity in the vacation property. Whey the membership period is over; the package has no value to the former member. Also, resale values are almost always lower than the original price. Timeshares are now more closely regulated by state consumer officials and sellers usually know they have to work hard to overcome the old reputation. Introducing a Free Small Business network for New York where you meet other professionals, get qualified leads, earn money and more. Get started Now! Dr. Tina Discepola, a physician from White Plains in Westchester, said she and her family signed up for a Disney timeshare in 2000. “While we were on our first family Disney World vacation in Orlando, we had an experience that was beyond anything we ever expected, :she said. “We met with a representative from Disney Vacation Club, listened to their sales pitch, and signed up that day. “Timeshares there start at about $18,000, plus a sliding monthly fee based on the number of points racked up for using the place. One important benefit, Discepola said, is that her family can stay at several Disney owned resorts.” There is a tremendous flexibility in terms of when and where members can travel.” She said.
This article was written for the Daily News By Jason R. Rich
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